Only about a third of newly listed tokens gain after debuting on top crypto exchanges, according to a new CoinGecko survey.
New token listings on top crypto exchanges like Coinbase, Binance, Bybit and others are tough for traders as only a third gaining in price and fewer than 10% staying above their debut price after a year, a new CoinGecko survey shows.
U.S.-based crypto exchange Coinbase stands out, where listed tokens get a second boost after the half-year mark of being listed on the exchange, CoinGecko writes. South Korean crypto exchange Upbit leads with 67% of new tokens in the green after 30 days, followed by Binance and OKX at roughly 50%.
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However, the survey notes that listings on Upbit “also decline fastest, as all newly-listed tokens go underwater by the 300 – 329 day mark.” On average, only one in four newly listed tokens stays in the green after the first 30 to 60 days, CoinGecko says.
Stablecoins Dominate Trading on Crypto Exchanges
The data also shows that trading is still heavily dominated by stablecoins. Tether (USDT▼$0.9991) and USD Coin (USDC▼$0.9998), the two largest stablecoins by market cap, make up over 66% of all pairs on the top 12 crypto exchanges. For comparison, non-stablecoin pairs account for just 23% of volume at peak periods.
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Reserves on the top crypto exchanges have also jumped from $152 billion at the start of 2024 to $225 billion by early 2026, a 48% increase. Binance leads, doubling its reserves to $93.4 billion. However, Coinbase holds the largest Bitcoin stash with over 800,000 BTC▲$61,901.00. CoinGecko added:
“Despite the increase in reserve value, it’s worth noting that Coinbase has recorded significant outflows of -20% and -41% from its BTC and ETH▼$1,630.47 reserves.”
Smaller exchanges like Bitget and MEXC saw the fastest reserve growth among their rivals, rising 262% and 275% respectively, the survey shows.
